22nd Jul 2021 10:05
(Alliance News) - Britvic PLC on Thursday reported a double digit rise in revenue for the third quarter of its financial year, with a strong performance from its At-Home business in several regions.
For the three months ended June 30, the Hemel Hempstead, Hertfordshire-based soft drinks maker posted revenue on a constant currency basis at GBP384.8 million, up 23% from the year before, with growth from all business units.
For the nine month period, revenue increased 3.1% to GBP1.00 billion.
Over the quarter, Britvic delivered a strong At-Home performance in Great Britain, while the easing of lockdown restrictions also led to improved results from the Out-of-Home channel.
There was also revenue growth from the At-Home channels in Brazil, France and Ireland.
Looking ahead, Britvic said despite an improved product and pack mix, it has not yet returned to pre-pandemic levels. However, on approach to the summer trading period, the company expects to deliver profit for its current financial year within the range of market expectations.
"Performance in Q3 was encouraging, as we benefited from the easing of lockdown restrictions, while also continuing to perform well in the At-Home channel. Some degree of uncertainty remains for now, however, as the full course of the pandemic is still unknown. That said, the momentum we had built up going into the pandemic has stood us in good stead throughout, and I am confident that we will continue to navigate our way through it successfully," said Chief Executive Simon Litherland.
Shares in Britvic were up 1.0% at 970.00 pence on Thursday in London.
By Dayo Laniyan; [email protected]
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